Arab countries are wasting tens of billions of dollars on subsidies for petrol and energy but dare not roll them back for fear of a political backlash, a UN report said. The UN Development Programme (UNDP) report this week said six of the...

WASHINGTON (AFP) – US President Barack Obama will unveil his 2012 budget later on Monday, proposing a raft of spending cuts and tax hikes aimed at curbing a record budget deficit. Facing a projected $1.65 trillion budget shortfall this year...